> For the complete documentation index, see [llms.txt](https://helix-5.gitbook.io/tradelayer/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://helix-5.gitbook.io/tradelayer/readme.md).

# TradeLayer

**Private trading for institutions.**

An institution registers on-chain, funds a treasury in USDC, decides who may trade and how much, and its people buy real tokenised equities on its behalf — without publishing what they trade or what they hold.

Orders are sealed in the browser and opened only inside a **Chainlink Confidential Workflow** running in an AWS Nitro enclave. The enclave checks the institution's private rules, places one real broker order, and signs an EIP-712 settlement that a relayer submits to Hedera. Positions live encrypted in `ConfidentialLedger`. Shares are **ATS equity tokens** pooled in an omnibus vault. Unfilled orders refund themselves through the Hedera Schedule Service.

> Not even the operator can see the order flow.

## Where to start

| If you want to                           | Read                                                          |
| ---------------------------------------- | ------------------------------------------------------------- |
| Understand why this exists               | [The problem](/tradelayer/concepts/the-problem.md)            |
| Understand how it works in three ideas   | [Three ideas](/tradelayer/concepts/three-ideas.md)            |
| Know exactly what leaks and what doesn't | [What is private](/tradelayer/concepts/privacy.md)            |
| See the moving parts                     | [Architecture overview](/tradelayer/architecture/overview.md) |
| Run it                                   | [Running it locally](/tradelayer/guides/running-locally.md)   |
| Know what it can't do yet                | [Honest limits](/tradelayer/honest-limits/limits.md)          |

## Status

Live on Hedera testnet against a real Alpaca paper-trading account. Five contracts deployed and verified (Sourcify `exact_match`), the Chainlink workflow deployed to the CRE private registry, the web app and intake API hosted.

Built for **ETHOnline 2026** — Hedera *Tokenization of Anything* and Chainlink *Best Confidential Workflow*.

## A note on sources

This documentation is generated from two places that do not always agree: the codebase, and the architecture specification maintained in Notion (v1.5). Where they diverge, these pages describe **what the code actually does** and flag the divergence. The most significant ones are collected in [Honest limits](/tradelayer/honest-limits/limits.md).


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